- Vaidas M / Foter / CC BY-NC-ND
Mallorca has over the years been the brunt of many travel critics, who somewhat unfairly have labeled this beautiful Spanish island a party capital. Being a popular tourist spot for millions of foreign visitors every year, its most infamous resort, Magaluf has played a major part in the island’s reputation.
The Magaluf strip is the favourite haunt of young party goers, dominated by a plethora of bars and clubs, popular to drink or dance the night away. With so much publicity, it is easy to overlook Mallorca as a place to find luxury real estate, but look beyond this and you will find a Spanish island that is steeped in history and rich natural beauty.
Mallorca’s natural charms are evident by the many celebrities who choose to buy a home here. In fact, a quarter of all real estate on the island is owned by foreigners. Take a drive through the mountainous countryside of the north coast and you won’t be far from the luxury residences of actor Michael Douglas and the writer Robert Graves.
The small resort of Puerto Portals on the south coast is an excellent place to immerse yourself in a truly sophisticated setting. It’s a popular luxury marina, frequented by rich yacht owners and fast sports cars.
Luxury real estate in Mallorca is always in high demand and prices continue to rise, despite the recession. With great sandy beaches and a cleaner reputation, Mallorca has maintained its popularity with international real estate buyers, mainly from Germany, Great Britain and Scandinavia, looking for a nice island to live on. Finding the perfect real estate depends entirely on your own preferences.
You can buy an elegant luxury apartment on the coast if you want to be close to the beaches, bars and restaurants, or opt for a large traditional inland farmhouse for total privacy. You can easily find real estate companies on the internet, which present their great variety of property via pictures and detailed information.
Buying real estate in Spain can be extremely bureaucratic, so investing in good property lawyers is essential to avoid any pitfalls. Lawyers can help you navigate the legal requirements of buying real estate in Spain, such as obtaining a foreign identity number for paying taxes and registering the residence with the Land Registry.
When you are considering buying any real estate in Mallorca, make sure that you perform a thorough structural check of the building, as you can pull out of the deal if you find anything wrong. Any development work to an existing building will require you to submit plans to the local Town Hall for approval before you can go ahead with any building work.
Real estate in Mallorca is a worthwhile financial investment. If well planned, the process can be a simple one that can result in acquiring an exclusive island residence.
